City of Racine - File #: 05-1336

• File #: 05-1336
• Version: A
• Name: PILOT Agreement for properties on Byrd Avenue
• Type: Communication
• Status: Passed
• File created: 12/16/2005
• In control: Finance and Personnel Committee
• Final action: 1/3/2006
• Title: Subject: Communication from the City Attorney recommending that the City enter into a Payment in Lieu of Taxes agreement with Future Wisconsin Oakwood, LLC, for properties located on Byrd Avenue. Recommendation: that the Mayor and City Clerk be authorized and directed to enter into agreements with Future Wisconsin Racine, Inc. for an $8,500 annual payment in lieu of tax for property at 5539 Byrd Avenue and Future Wisconsin Oakwood, LLC for a $15,500 annual payment in lieu of tax for properties at 5501 and 5001 Byrd Avenue. Fiscal Note: The agreement will generate additional annual revenue of $24,000.

Date	Ver.	Action By	Action	Result
1/3/2006	A	Common Council	Adopted
12/27/2005	A	Finance and Personnel Committee	Recommended For Approval	Pass

Title

Subject: Communication from the City Attorney recommending that the City enter into a Payment in Lieu of Taxes agreement with Future Wisconsin Oakwood, LLC, for properties located on Byrd Avenue.

Recommendation: that the Mayor and City Clerk be authorized and directed to enter into agreements with Future Wisconsin Racine, Inc. for an $8,500 annual payment in lieu of tax for property at 5539 Byrd Avenue and Future Wisconsin Oakwood, LLC for a $15,500 annual payment in lieu of tax for properties at 5501 and 5001 Byrd Avenue.

Fiscal Note:  The agreement will generate additional annual revenue of $24,000.